Shakepay opens Canada waitlist for physical prepaid card

Shakepay has opened a waitlist in Canada for its physical prepaid card, using a points-based ranking system tied to in-store use of the company's virtual card.

The Montreal-based fintech is launching the physical Shakepay Visa prepaid card after more than four years of customers using its virtual version. Users can join a three-week waitlist game and move up the rankings by tapping their virtual card at physical shops.

Each in-store purchase with the virtual Shakepay card earns 21 points. Customers receive 105 points if they are among the first five users to visit a particular store during the waitlist period, provided the merchant is based in Canada.

In-store taps outside Canada still earn 21 points but do not qualify for the five-times points boost. Waitlist rank determines how quickly users gain access to the physical card and whether they receive a limited-launch version.

The top 2,100 users on the leaderboard will receive a Launch Edition card engraved with their ranking. The top 21,000 users will receive the physical card before its general release. Everyone else will receive it later, after those initial batches have been distributed.

Shakepay is also adding a separate layer of competition around merchant visits. The user with the most in-store visits at a merchant becomes that merchant's "mayor," though that status does not add points or directly affect waitlist rank.

Merchant push

Shakepay is using the launch to draw attention to its merchant network and consumer card product. A Canadian merchant will "turn orange" in the app once five different Shakepay users have visited that location during the campaign.

The feature is meant to show where customers are spending locally and create a visible map of activity across the country. Shakepay described it as a community marker rather than a payment reward.

There is also a referral element for businesses. Eligible merchants can earn satoshis based on the total number of points their location accumulates during the campaign, and the first customer to refer a business that joins Shakepay for Business may receive the same amount.

The move extends a strategy familiar in consumer fintech, where card launches are paired with gamified incentives to drive usage and engagement. By linking waitlist rank to real-world transactions, Shakepay is encouraging customers to use an existing product more often before the new one is issued.

It also gives the company a way to direct traffic to participating shops and generate visible signs of card activity in local markets. The emphasis on Canadian merchants suggests Shakepay wants the physical card launch to reinforce its domestic footprint as digital payment providers compete for more everyday spending.

Physical cards remain important for fintech groups even as mobile wallets become more common. A tangible card can broaden acceptance at the point of sale, support brand recognition, and help make a digital finance app a routine payment option for groceries, coffee, and other daily purchases.

For Shakepay, the launch marks a step beyond a virtual-only card offering into a broader retail payments presence. The company is tying that move to customer status, local merchant activity, and referrals, blending product rollout with a public leaderboard.

Shakepay underscored the competitive tone in its announcement to users: "After 4.5 years of the virtual Shakepay Visa* Prepaid Card doing work, the physical Shakepay Card is almost here, and we're launching it with a waitlist game built for shakers who love a little friendly competition."